Sen. Elizabeth Warren rolled out a sweeping plan Monday to cancel $640 billion in student loan debt and end tuition at the nation’s public universities — funded by higher taxes on the wealthiest Americans.

Warren’s campaign estimates her proposal would wipe out more than 40 percent of the $1.5 billion in student debt held by more than 40 million Americans.

“The time for half measures is over,” Warren wrote in a blog post. “My broad cancellation plan is a real solution to our student debt crisis. It helps millions of families and removes a weight that’s holding back our economy.”

Previous estimates have pegged the cost of making college tuition-free across the country at roughly $47 billion a year — which would account for roughly 1 percent of the current federal budget.

She said her college plan would be paid for by a “wealth tax” levied against Americans with assets valued at more than $50 million, which her campaign says will raise $2.75 trillion over a decade.

A recent Federal Reserve study found that Americans under the age of 35 are spending less than previous generations because of their student debt burden, slowing economic growth and lowering homeownership rates.

The debt relief policy package may help Warren stand out in an increasingly crowded and liberal-leaning Democratic field, where free tuition has become something of a standard among the leading contenders.

Warren’s campaign has struggled to gain traction in the polls and in fundraising, despite a bevy of policy proposals, her national profile as a consumer rights activist and President Trump repeatedly targeting her.

Her campaign’s top finance official stepped down in March after a disagreement with Warren over pursuing big-dollar donors, leaving the Massachusetts senator ever more reliant on small-dollar contributions.

Warren raised just $6 million during the first three months of 2019, campaign finance records show. That’s just a fraction of the $18.2 million raised by Vermont Sen. Bernie Sanders and the $12 million reported by California Sen. Kamala Harris.

She was also outpaced by former Texas Congressman Beto O’Rouke, who raised $9.4 million, and South Bend, Indiana, Mayor Pete Buttigieg, who took in $7.1 million.

Warren’s debt relief proposal would cancel debts up to $50,000 in households that make less than $100,000 a year. Households with incomes of up to $250,000 would have their debt cut on a sliding scale.

The liberal Democrat also called for a dramatic expansion of the Pell Grant program and an increase in aid to historically black colleges.